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Kibo Mining upbeat on coal to power project

By Robert Tyerman | Wednesday 14 October 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


East Africa-focused diversified coal play Kibo Mining (KIBO) is sounding increasingly enthusiastic about its 109 million-tonne Mbeya coal-to-power project in south-west Tanzania in the wake of a cheering update on the definitive feasibility study under way on the mining side of the project. With its AIM-quoted shares at 5.38p, between last December’s 12-month high of 9.75p and a 1.17p low, the Dublin-based company hopes to produce 1.48 million tonnes of thermal coal a year as from the first quarter of 2019 ’as long as there are no other snags,’ says chief executive officer Louis Coetzee, to feed a proposed 250-350 megawatt mouth-of-mine powered station to supply Tanzania’s fuel-hungry market.


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